Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.

 

3. Platinum fires back at Echo Therapeutics over ‘rogue’ directors

The activist investor that owns some 30% of Echo Therapeutics fired back at the company yesterday in the latest salvo of a bitter proxy war, accusing a trio of investors of going “rogue.”

Philadelphia-based Echo was developing a wireless blood glucose monitor it calls Symphony, until abruptly shutting its doors last month. Echo has lacked a permanent CEO since 2013 and is being run by general counsel Kimberly Burke and interim CFO Charles Bernhardt. Read more

2. GI Dynamics shares plunge on EU sales halt for EndoBarrier device

European regulators temporarily suspended sales of GI Dynamics’ EndoBarrier weight loss device “pending a review of its vigilance and reporting systems,” the company said today, sending share prices plummeting in pre-market trading.

Lexington, Mass.-based GI Dynamics won CE Mark for the EndoBarrier, a plastic gut liner designed to slow the uptake of nutrients in food, to treat obesity and Type II diabetes. Read more

1. Allergan CEO Pyott steps down from Edwards Lifesciences board

Allergan chairman & CEO David Pyott is resigning his seat on the board at Edwards Lifesciences, effective immediately, to devote more time to his chief executive duties – which include fending off a hostile takeover bid.

Allergan is resisting the move by Valeant Pharmaceuticals and hedge fund mogul William Ackman’s Pershing Square Capital Management to take it over in a $53 billion cash-and-stock deal. Read more